The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Sto. Rosario Rural Bank (Batangas), Inc. reminded borrowers of said bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of Sto. Rosario RB to pay their loans and other obligations at any PNB Branch under the account name, “PDIC FAO BURL Sto. Rosario Rural Bank” with account number 373094900013. It further advised borrowers to keep copies of the PNB Deposit/Payment Slips. The Receiver emphasized that only those with duly validated PNB Deposit/Payment Slips shall be considered valid payments.

The Monetary Board (MB) placed Sto. Rosario RB under the receivership of the PDIC by virtue of MB Resolution No. 1615 dated October 4, 2012. As Receiver, PDIC took over the bank on October 4, 2012. Upon takeover, all bank records shall be gathered, verified and validated.

Sto. Rosario RB is a three-unit bank with Head Office located at J.P. Rizal St., Poblacion, Padre Garcia, Batangas. Its two branches are in Lipa City and San Juan, both in Batangas. Latest available records show that as of June 30, 2012, the Sto. Rosario RB had 5,805 accounts with total deposit liabilities of P208.15 million. According to the latest Bank Information Sheet (BIS) as of June 30, 2012 filed by Sto. Rosario RB with the PDIC, the bank is majority owned by Antonio S. Lindog (35%) and Celerina R. Lindog (30%). Its Chairman and President/CEO is Antonio S. Lindog.

Borrowers of the bank may also communicate with the Deputy Receiver/Assisting Deputy Receiver at the bank premises or call the Loans Management Department at (02) 841-4970 or 841-4963. Queries may also be sent through email at pad@pdic.gov.ph.

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.